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By MARTIN CRUTSINGER , Associated Press WASHINGTON - After weeks of one negative report after another, the economy finally got some news Friday that wasn't half bad. Wall Street, which suffered a stomach-churning drop Thursday, managed a modest gain. Oil prices hit their lowest point since early June, and gas fell to a seven-week low. Military spending helped boost big-ticket factory orders in June, and new home sales fell less than expected. Still, private economists cautioned that a few better-than-expected data releases did not mean the economy's problems had disappeared. The Commerce Department reported that a second straight double-digit increase in orders for defense capital goods had pushed total orders for big-ticket manufactured products up by 0.8 percent in June, the strongest gain in four months and much better... [read full story]
